Kyrgyzstan: Kyrgyzaltyn against buying Thompson Creek

Deputy Chairman of the Board of Kyrgyzaltyn JSC for Economy, Finance and Investments Bektur Sagynov told the deputies of the Respublika – Ata Jurt faction why Kyrgyzaltyn opposed the purchase of Thompson Creek.

According to him, three members of the board of directors of Centerra Gold Inc. voted against the deal.

“We didn’t have time to study the documents. They were given us first, and then recalled as secret. Perhaps we were not trusted. However, other members of the board of directors supported the purchase,” Bektur Sagynov said.

Vice Prime Minister Duishenbek Zilaliev added that Kyrgyzstan would only benefit from the purchase of the company.

“The price of gold will grow, shareholders will receive twice as much dividends. Kyrgyzstan doesn’t lose from this deal,” he said.

In July 2016, Centerra Gold Inc. bought a 100% stake in the North American mining company Thompson Creek Metals Inc., which had several gold, copper and molybdenum deposits in its assets. (24.kg/Ukrainian metal)